Rochester,NY 6/27/2009 10:04:39 PM
BAC -Coming Week: Data Rules in Earnings Quiet
Bank of America Corporation
Weekends Report - BAC -Coming Week: Data Rules in Earnings Quiet- Sourced WhisperFromWallStreet.com
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Bank of America Corporation,BAC
Weekends Report: 12.71 Down 0.04 (0.31%) 7:59PM ET
All's quiet on the corporate front as companies begin to prepare second-quarter earnings reports, which investors anxiously await.
The second quarter officially ends on Tuesday, and many companies have entered their quarterly "quiet periods," during which they lock their lips until financial results are released. The only major statements firms are likely to make between now and then are warnings of worse results than they initially forecast.
"We're kind of in a holding pattern, a time when we're about to start getting earnings," says Roger Young, a portfolio manager at Miller/Howard Investments. "What that implies is ... guidance other than negative guidance is kind of put on hold."
About
Bank of America Corporation, a financial holding company, provides a range of banking and nonbanking financial services and products in the United States and internationally. Its Global Consumer and Small Business Banking segment offers savings accounts, money market savings accounts, certificate of deposits, individual retirement accounts, and checking accounts; U.S. Consumer and Business Card, unsecured lending, and international card; consumer real estate products, including mortgage products for home purchase and refinancing, reverse mortgage products, and home equity products; and insurance services. The company?s Global Corporate and Investment Banking segment provides commercial and corporate bank loans, indirect consumer loans, real estate lending products, and leasing and asset-based lending products for banking clients, middle market commercial clients, multinational corporate clients, public and private developers, homebuilders, and commercial real estate firms; advisory services, financing, and related products for institutional investor clients in support of their investing and trading activities; debt and equity underwriting, merger-related advisory services, and risk management solutions; and treasury management, trade finance, foreign exchange, short-term credit facilities, and short-term investing options for correspondent banks, commercial real estate firms, and governments. The company?s Global Wealth and Investment Management segment offers investment and brokerage services, estate management, financial planning services, fiduciary management, credit and banking expertise, and diversified asset management products to institutional clients and high-net-worth individuals. As of December 31, 2008, the company operated approximately 6,100 banking centers and 18,700 automated teller machines. Bank of America was founded in 1874 and is headquartered in Charlotte, North Carolina.
Last Trade: 12.75
Day's Range: 12.27 - 12.78
52wk Range: 2.53 - 39.50
Volume: 341,830,530
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